The Egypt Financial Regulatory Authority (FRA) held meetings with around eight investment and financial institutions, including Jefferies, during a London investor roadshow to present Egypt’s non-banking financial sector reform experience and current investment opportunities, with a focus on insurance. FRA chair Mohamed Farid highlighted changes following the Unified Insurance Law issued in July 2024, including revised investment rules for private insurance funds and insurers that expanded eligible assets to include metals-focused funds and metal-backed instruments traded on Egyptian exchanges, open-ended equity funds investing in listed shares, and domestic venture capital and private equity funds. Insurers were also required to allocate at least 2.5% of paid-up capital to open-ended listed-equity funds and 5% of invested assets to commodity and metals funds or metal-backed instruments, while allocations to real estate investment funds were capped at 10% of invested assets for life insurers and 5% for property and liability insurers. Additional measures cited included phased increases in minimum insurer capital to EGP 600 million in the second phase, new frameworks for calculating and building technical provisions across insurance lines, an increase to the maximum cover under microinsurance, and updated rules for the establishment and licensing of insurance and reinsurance companies. On digital transformation, the FRA pointed to permitting electronic issuance of standard policies including compulsory motor, temporary life, personal accident and microinsurance, supported by implementing decisions under FinTech Law No. 5 of 2022 covering technology infrastructure and protection systems, digital identity and digital contracting, and registers for outsourcing in fintech.
Egypt Financial Regulatory Authority 2025-07-20
Egypt Financial Regulatory Authority outlines insurance reforms and digitalisation to international investors in London
The Egypt Financial Regulatory Authority (FRA) engaged with London institutions to showcase Egypt's non-banking financial sector reforms and investment opportunities, particularly in insurance. Key updates include changes under the Unified Insurance Law, such as revised investment rules for insurers, phased capital increases, and new frameworks for technical provisions. The FRA also highlighted digital transformation initiatives, including electronic policy issuance and FinTech infrastructure enhancements.